Brent Carpenter
Need advice. Listing my first rental. :)
Scenario: Want to turn my primary into a rental. Mortgage is $950 (I have about 100k in equity and only 79k to owe). Rent will go for about 1575. House is in great shape with upgrades. Question: If I list home on zill...
Kevin Last
Chart of Accounts
Hi! I'm still rather new to real estate investing and I've been slowly building a chart of accounts since most the accounting softwares are not set up directly for real estate investors. I tend to feel like I'm missin...
Dale E.
Renting in Naperville, IL. Good idea or not worth it?
Hi BP members,I'm looking to get started in the RE investment game as a way to generate some passive income outside of my W-2 job. I currently live in the Naperville, IL area (western chicago suburbs) and think I want...
Eric Braxton
Strategy on buying points
Hi, I would like to see what others strategies are when buying points to lower a mortgage rate. I know that buying points will lower the mortgage and create or provide a bigger cushion to cash flow. But how does every...
Bill Mitchell
Rental Property Income & the 2 year Rule
In order for rental property to be counted towards regular income you must have the property rented out for 2 years.
My question is does the 2 year rule apply to each property separately? Or once you have ha...
Joshua Hollandsworth
Do portfolio lenders usually only do bundle loans?
When you try to use a portfolio lender, are they going to want a bundle of loans in order for it to be worth their while? Or can I buy property to property. What I mean is, are they going to say- "We would need you t...
Kevin Franklin
How to intervene before bank places tax lien...
I know a friend of the family that inherited his mother's house after her passing away and now, years later, he is on the verge of losing the house due to defaulting on property tax. No tax lien has been placed on th...
Jonathan S.
Cash Out Refi-thoughts?
Hi All,Need some advice, bought a owner occupant duplex for 160k; put near 25k into it. Terms: 30yr 3.5%, 0 down(VA loan), rent covers mortgage. I have the option for a 100% cash out refi at 3.375% locked in today. Zi...
Patrick Diamond
Property used as commercial B&B. Can new owners get resi mrtg?
Hello BP:I have an interesting situation.8 years ago, a residential property was purchased by my client and converted to a bed & breakfast and has been functioning as one since.Client now wants to sell, and, due t...
Justin Holwell
Looking For Advice On First Investment
I am considering investing in real estate in the near future. I have been doing as much research as possible, and really like the idea of BRRR investing. I am looking at opinions and points of interest that I may not ...